Cold Rock gives a glimpse of its innovation secret
Plus a fearless forecast of massive growth in cake business.
Find out what innovation is happening with the brand in this Q&A with Stan Gordon, CEO of Franchised Food Company.
QSR Media: What has Cold Rock been up to in the last year?
Stan: The last year has seen Cold Rock focus much of its efforts internally. Cold Rock is now the strongest operationally that we have ever been and that is thanks to a solid Head Office team.
The brand itself has not changed over the past 12 months but evolved to keep fresh and modern. The main development for the brand has been the launch of the Cold Rock VIP Club.
QSR Media: What are your top 3 priorities?
Stan: In 2013 Cold Rock will be focusing on our online strategy. We see digital marketing and our online presence integral to the Cold Rock brand development.
Another priority is expansion via organic growth. The addition of Phill Tucker to the Cold Rock Head Office team has put us in good stead to grow the franchise network significantly throughout the year.
The final priority, arguably the most important, is customer service. No matter how much the Cold Rock business develops and the brand evolves, the world and the economy changes, and therefore customer service is integral to ensure a successful organisation of any kind. At Cold Rock, our customer service is the one constant throughout the business that we strive to improve endlessly. Without happy customers, we have no business!
QSR Media: What do you see as some of the biggest issues in the treats QSR market?
Stan: There are too many ‘Me Too’ brands out there at the moment. An example is the plethora of operators who merely purchase a soft serve machine and jump in on the current frozen yoghurt fad. With a lack of industry knowledge and retail experience in Australia, this results in ongoing issues.
Inexperience is a huge issue. Anyone whose granny makes a cookie suddenly becomes an expert in baking. This creates unrealistic expectations for growth, promises landlords unrealistic rentals… for brands that unfortunately often won’t be there is 12 months’ time.
With the Cold Rock brand we are lucky; we’re established and have a strong, loyal following. And our brand and offering is unique… and yummy!
QSR Media: Where are you seeing growth?
Stan: We see growth in our retail experience. We continually try to create an experience. Cold Rock is not just another ice cream store. We sell confectionery which we combine with ice cream. It’s theatrical…callisthenic… And more and more customers want to individualise their treat eating experience.
With winter fast approaching we expect to see sales of our Take Home Packs increase, as even during the colder months everyone needs a tasty treat… The only difference is that during winter people can enjoy Cold Rock in the warmth of their own home!
We also see Cold Rock cakes as a massive growth area. After all, 21 million people in Australia celebrate their birthday every year – and that’s not including anniversaries, weddings, christenings, barmitzvahs and other celebrations.
QSR Media: What are the recent innovations Cold Rock has come up with?
Stan: Cold Rock has really focused on the in-store experience.
We have made small innovations in regards to path to purchase, from product labels to how we display our POS.
In regards to larger scale innovations, from an operations perspective we are improving our ice cream base mix and flavour profile, which we hope to launch into the marketplace soon. While the Cold Rock Ice Cream has always been good, working with our suppliers we have turned it into a premium ice cream and are confident this new mix is the best on the market.
QSR Media: What can we expect from Cold Rock this year?
Stan: Exciting times are ahead for Cold Rock but I cannot go into details just yet… Watch this space for something extremely exciting mid way through the year!
